Zurcher Kantonalbank Zurich Cantonalbank Acquires 98 Shares of Reliance Steel & Aluminum Co. (NYSE:RS)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Reliance Steel & Aluminum Co. (NYSE:RS) by 1.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,261 shares of the industrial products company’s stock after acquiring an additional 98 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Reliance Steel & Aluminum were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its position in shares of Reliance Steel & Aluminum by 3.9% during the 2nd quarter. Victory Capital Management Inc. now owns 2,490,038 shares of the industrial products company’s stock valued at $236,380,000 after purchasing an additional 94,523 shares during the last quarter. LSV Asset Management increased its position in shares of Reliance Steel & Aluminum by 2.9% during the 3rd quarter. LSV Asset Management now owns 1,370,117 shares of the industrial products company’s stock valued at $139,806,000 after purchasing an additional 38,615 shares during the last quarter. Ninety One UK Ltd increased its position in shares of Reliance Steel & Aluminum by 46.6% during the 2nd quarter. Ninety One UK Ltd now owns 732,263 shares of the industrial products company’s stock valued at $69,514,000 after purchasing an additional 232,910 shares during the last quarter. Royal London Asset Management Ltd. boosted its holdings in Reliance Steel & Aluminum by 124.2% during the 3rd quarter. Royal London Asset Management Ltd. now owns 730,509 shares of the industrial products company’s stock valued at $74,611,000 after acquiring an additional 404,704 shares during the period. Finally, FMR LLC boosted its holdings in Reliance Steel & Aluminum by 249.2% during the 1st quarter. FMR LLC now owns 227,173 shares of the industrial products company’s stock valued at $20,504,000 after acquiring an additional 162,118 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE RS opened at $118.20 on Friday. The company has a current ratio of 4.25, a quick ratio of 1.92 and a debt-to-equity ratio of 0.29. Reliance Steel & Aluminum Co. has a 12 month low of $70.57 and a 12 month high of $122.17. The company has a 50 day simple moving average of $112.12 and a two-hundred day simple moving average of $102.00. The stock has a market cap of $7.54 billion, a price-to-earnings ratio of 16.89, a PEG ratio of 1.81 and a beta of 1.10.

Reliance Steel & Aluminum (NYSE:RS) last announced its quarterly earnings data on Thursday, October 22nd. The industrial products company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.53 by $0.34. Reliance Steel & Aluminum had a net margin of 4.83% and a return on equity of 11.52%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the business posted $2.39 EPS. The business’s quarterly revenue was down 22.4% compared to the same quarter last year. Analysts forecast that Reliance Steel & Aluminum Co. will post 6.91 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 20th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 19th. Reliance Steel & Aluminum’s dividend payout ratio is currently 24.18%.

A number of equities analysts recently issued reports on the company. Citigroup boosted their price objective on Reliance Steel & Aluminum from $90.00 to $115.00 and gave the company a “neutral” rating in a report on Wednesday, July 29th. Deutsche Bank Aktiengesellschaft upgraded Reliance Steel & Aluminum from a “hold” rating to a “buy” rating and upped their target price for the stock from $90.00 to $115.00 in a report on Tuesday, August 4th. Bank of America upgraded Reliance Steel & Aluminum from a “neutral” rating to a “buy” rating and set a $123.00 target price for the company in a report on Friday, October 23rd. Finally, ValuEngine upgraded Reliance Steel & Aluminum from a “sell” rating to a “hold” rating in a research note on Friday, October 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $110.75.

In related news, VP Michael Patrick Shanley sold 3,787 shares of the business’s stock in a transaction on Friday, November 6th. The shares were sold at an average price of $112.24, for a total value of $425,052.88. Following the completion of the transaction, the vice president now directly owns 28,501 shares in the company, valued at approximately $3,198,952.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 3.43% of the company’s stock.

Reliance Steel & Aluminum Profile

Reliance Steel & Aluminum Co operates as a metals service center company. The company provides alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium, and specialty steel products and processing services to general manufacturing, non-residential construction, transportation, aerospace and defense, energy, electronics and semiconductor fabrication, and heavy industries.

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Institutional Ownership by Quarter for Reliance Steel & Aluminum (NYSE:RS)

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